Long Term Consequences of Natural Resource Booms for Human Capital Accumulation
AbstractTight labour markets driven by resource booms could increase the opportunity cost of schooling and crowd out human capital formation. For oil producing economies like the Province of Alberta, the OPEC oil shocks of 1973 to 1981 may have had an adverse long term effect on the productivity of the labor force if the oil boom resulted in workers reducing their ultimate investment in human capital rather than merely altering the timing of schooling. We analyze the effect of this decade long oil-boom on the long-term human capital investments and productivity for Alberta birth cohorts that were of normal schooling ages before, during and after the oil boom. Our findings suggest that resource booms may change the timing of schooling but they do not reduce the total accumulation of human capital.
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Bibliographic InfoPaper provided by UBC Department of Economics in its series CLSRN Working Papers with number clsrn_admin-2011-5.
Length: 31 pages
Date of creation: 22 Feb 2011
Date of revision: 22 Feb 2011
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Resource booms; long term human capital accumulation; OPEC oil crisis;
Find related papers by JEL classification:
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-03-05 (All new papers)
- NEP-ENE-2011-03-05 (Energy Economics)
- NEP-HRM-2011-03-05 (Human Capital & Human Resource Management)
- NEP-LAB-2011-03-05 (Labour Economics)
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